It’s inevitable that a company will undergo rebranding at least once in its lifetime. Sometimes it occurs because the company discovers who they are and what they stand for after they’ve launched. A rebrand can also take place when a company has outgrown its current brand.
Some of the world’s most iconic brands – think Pepsi, McDonald’s and Adidas – have logos that have evolved several times over their lifetime. Most recently, IHOP announced it will be turning its ‘P’ upside down and rebranding as a burger joint (IHOb).
While a logo isn’t the only way to define a brand, it is arguably the easiest way to communicate a rebrand to customers. But before you start mocking up new logo designs or cultivating a new brand positioning statement, it’s important to define your rebranding strategy. Answer these key questions to get started.
1. Has your customer profile changed?
Perhaps your original customer base has grown up…or even moved on. Can you adjust your brand to regain their interest? Or will you switch gears and appeal to an up and coming generation of customers? Get into the nitty-gritty of who your customer is now and who they were then. Recognizing any changes in behavior will show you where you need to be as a brand.
2. What problem does your company solve?
Don’t overthink this question. Your answer should be simple and straightforward. Because if you can’t answer it in five words or less, how do you expect your customer to understand what you offer? In your rebrand, clearly communicate the problem(s) that your company solves. What emotions do these solutions tap into? Use emotive words in your brand positioning statement to paint the picture of how your customer will feel when they use your product or service.
3. Are you telling the right story?
Brand associations are things that customers think of when they see your logo or hear your company name. Is there anything specific your company is known for? The Crocs brand is a great example of using brand associations to tell a bigger story. Their iconic resin clogs are known as being unfashionable and just plain ugly, yet they’re widely popular because the brand gives customers permission to be themselves.
4. Where do you see your company in 5 years?
Think long-term when going through a rebrand. What is your company’s objective today and will that change in 5, 10 or 15 years? Consider how your target audience will change over time. Are there any industry disruptors on your radar? Look at your brand’s data to determine where you go from here. A smart, well-researched strategy will ensure your new brand sticks.
5. Why do you do what you do every day?
Not to be confused with question #2, this one may stump you. Unless you’re one of the founders, it might be difficult to tap into the original reason the company was created. You might be aware of your company’s greater reason for being, but if not, do some soul searching and define your “why.” Defining this element of your brand story will give your rebrand strategy more depth and authenticity.
There’s no right answer to these questions, which means the possibilities are endless for your rebrand. It’s an intimidating undertaking that requires a deep dive into your company. Strategic thinking like this can’t be done overnight, but it’s important if your current brand isn’t working. If you have any questions or need assistance with brand development, contact us at Commit Agency – we’d love to help!